Morning Bites (part 2)

🥈Solar panel installations in China dropped a further 55% YoY in August, vs. the 57% YoY decline in July, per NEA data, as some key subsidies for local solar projects expired in early-June, and investment in grid infrastructure is failing to keep pace with the surging installations of renewable energy capacity in the last several years. However, the figure was still up 61% YoY in 8mo25

Meanwhile, overall photovoltaic cell output in China surged 106% YoY in August, vs. the 116% YoY gain in July (and was up 48% YoY on 8mo25 basis)

Given the solid demand for renewable energy in China, we maintain our positive view on silver, copper and aluminium, which are the key beneficiary metals of the proposed global transition to clean energy in 2024-30

#silver #copper #aluminium